Background:
- 2nd Bearish reversal candle formed after testing of the horizontal resistance area near 0.87 (previous left shoulder high) with a strong bearish marobozu closing the gap in commanding manner
- Slight bearish divergence noted
Entry:
- Sell stop set 20pips below the bearish marobozu @ 0.86
SL:
- Set at 50% of the bearish marobozu @ 0.872 (20 pips above 0.82 round number)
- Up for adjustment in the future
PT:
- Set at previous support @ 0.835 area
- 2nd Bearish reversal candle formed after testing of the horizontal resistance area near 0.87 (previous left shoulder high) with a strong bearish marobozu closing the gap in commanding manner
- Slight bearish divergence noted
Entry:
- Sell stop set 20pips below the bearish marobozu @ 0.86
SL:
- Set at 50% of the bearish marobozu @ 0.872 (20 pips above 0.82 round number)
- Up for adjustment in the future
PT:
- Set at previous support @ 0.835 area
Giao dịch đang hoạt động:
Updates - 24 Jan 2017:
- Sell stop triggered
- Yesterday session closed bearishly with minimal challenge from the bull at the 20MA support... Hopefully bull is gone for good for now
- From now on, I will closely monitor the price action at this 20MA support region.... to make any trade adjustment if necessary.
- Sell stop triggered
- Yesterday session closed bearishly with minimal challenge from the bull at the 20MA support... Hopefully bull is gone for good for now
- From now on, I will closely monitor the price action at this 20MA support region.... to make any trade adjustment if necessary.
Giao dịch đang hoạt động:
Updates - 25 Jan 2017:
- Yesterday close was a good one for the bear as it cancelled off it initial upwards movement and closed a shooting star. Also daily closed below 50MA resistance
- Hopefully this will serve as a good basis for the bear to continue towards previous swing low.
- Will certainly hold on to my trade in the hope of reaching my PT within the next 2 weeks
- Yesterday close was a good one for the bear as it cancelled off it initial upwards movement and closed a shooting star. Also daily closed below 50MA resistance
- Hopefully this will serve as a good basis for the bear to continue towards previous swing low.
- Will certainly hold on to my trade in the hope of reaching my PT within the next 2 weeks
Giao dịch đang hoạt động:
Updates - 30 Jan 2017:
- Finally got the chance to update my journal, been in CNY holiday mode since... Need to be more discipline in updating my journals... (CNY resolution.. lols...)
- Last week closed with a bullish reversal engulfing candle after breaking down the 50MA resistance.
- I will hold on to this trade and would expect this pullback to retest the 20MA resistance and hopefully continue its current downward trend.
- Finally got the chance to update my journal, been in CNY holiday mode since... Need to be more discipline in updating my journals... (CNY resolution.. lols...)
- Last week closed with a bullish reversal engulfing candle after breaking down the 50MA resistance.
- I will hold on to this trade and would expect this pullback to retest the 20MA resistance and hopefully continue its current downward trend.
Giao dịch đang hoạt động:
Updates - 1 Feb 2017:
- Yesterday candle did tested the 20MA resistance and closed a bullish candle with a long upside wick (Shooting star?)
- Building on this, i would hold on to this trade and see how the price react to the 20MA.
- However, i need to be wary about the upcoming GBP rate and policy release in this coming Thursday. Potential trade adjustment will be made in the coming days.
- Yesterday candle did tested the 20MA resistance and closed a bullish candle with a long upside wick (Shooting star?)
- Building on this, i would hold on to this trade and see how the price react to the 20MA.
- However, i need to be wary about the upcoming GBP rate and policy release in this coming Thursday. Potential trade adjustment will be made in the coming days.
Giao dịch đang hoạt động:
Updates - 2 Feb 2017:
- Yesterday session continued the bearishness from the shooting star off 10/20MA resistance
- Similar to my other open trades, i will limit my risk by moving my SL to 20pips above the shooting star @ 0.865
- ATM, i have 90pips unrealised gain with additional 150pips to my PT
- Yesterday session continued the bearishness from the shooting star off 10/20MA resistance
- Similar to my other open trades, i will limit my risk by moving my SL to 20pips above the shooting star @ 0.865
- ATM, i have 90pips unrealised gain with additional 150pips to my PT
Đã hủy lệnh:
Updates - 3 Feb 2017:
- Lesson of the year!!! Exit trade before rate or policy announcement....
- Because of greed in chasing the potential profit, i was hoping the announcement to be in my favor thus didnt execute my exit rule.(This is same for all my GBP trades)
- For this, i paid the price.... my previous 90pips has now evaporated and i have exit my trade at breakeven.
- Yesterday candle closed a bullish engulfing but yet to close above the 10/20MA resistance. This could be another chance to short?? lets see
- Lesson of the year!!! Exit trade before rate or policy announcement....
- Because of greed in chasing the potential profit, i was hoping the announcement to be in my favor thus didnt execute my exit rule.(This is same for all my GBP trades)
- For this, i paid the price.... my previous 90pips has now evaporated and i have exit my trade at breakeven.
- Yesterday candle closed a bullish engulfing but yet to close above the 10/20MA resistance. This could be another chance to short?? lets see